FTSE 100 watch: Footsie subdued amid corporate news

The FTSE 100 has inched marginally lower in today’s session, despite a positive lead from Asia. Investors have instead focused on updates by blue-chips including Bunzl (LON:BNZL) and BHP (LON:BHP).

FTSE 100 inches lower

As of 12:29 BST, the Footsie had given up 8.80 points to stand 0.12 percent lower at 7,461.12. Sentiment has been subdued despite an upbeat lead from Asia, where shares rose on the back of strong data out of China. Reuters quoted Markets.com analyst Neil Wilson as attributing the numbers to stimulus measures taken by Beijing and US President Donald Trump’s decision not to raise tariffs in March.

“Nevertheless, despite these better figs, we should remind ourselves that China is growing at its weakest pace in about three decades,” the analyst pointed out.

Chris Beauchamp at IG meanwhile commented in a note today that the blue-chip index continued “to make heavy weather of its attempt to break through trendline resistance, but it does appear to have achieved this for the time being, breaking above 7,460”. The analyst added that fresh gains targeted the 7,560-point level and higher, “while rising trendline support from the lows of 11 April continues to hold back further losses”.

Individual Footsie fallers

In individual stock news, shares in Bunzl have been sold off as the company  revealed that its revenue growth had slowed in the first three months of the year. The company’s shares are 10.54 percent down at 2,282.00p. BHP meanwhile is 2.50 percent down at 1,861.80p as it trimmed its iron ore guidance.

DS Smith (LON:SMDS), however, has gained 0.68 percent to 354.70p after disclosing that it had agreed the sale of two packaging businesses in North Western France and Portugal.

The FTSE 100 index was 0.10 percent down at 7,462.22 points as of 12:54 BST on Wednesday, 17 April 2019.